I’m sure you’ve heard it all before, but yes the economy is down. These are tough times, especially for small business owners whose majority of revenue is generated through the residential market. With housing starts at all-time lows, you might very well be feeling the negative effects rippling though your business.
But luckily it’s not all doom and gloom. For water treatment dealers who practice smart business techniques and put in some extra effort, it’s business as usual.
From association involvement to certification, financing opportunities to effective Internet communications, practices like these will push you ahead of your competition.
There are so many issues that business owners today need to be aware of, and unfortunately, many are not. For instance, do you have a plan for after you retire? Who’s going to take over your business? Will it stay in the family, or will you sell it? What will happen to all of your employees who have been with you for so many years? Succession planning is crucial, even if you are several years away from retirement.
While the economy may be weighing heavily on you and your business, it is probably doing the same for your customers. That is why if you do not offer financing as a payment option, you will lose out on more sales than you could imagine. Many people today—although they may not admit it—cannot afford to cut a check for water treatment equipment; however, if you give them the option to make payments over a period of time, they will be more inclined to buy from you because they will be able to afford to buy from you. Consider what financing could have done for you the next time you do not close a deal.
You should also be keeping up with all of the latest trends and technologies. The Internet has become a vital tool not only for communication but also for business and advertising opportunities, so brush up on you typing skills and get on the Web if you aren’t already.
And I cannot say it enough, but if you want to get ahead of the game get involved. By participating in regional and national associations, you will become more educated and will establish important contacts within the industry.
Because Water Quality Products understands the challenges dealers face today, the editorial staff is pleased to bring you the second annual edition of Dealer Insight—A Guide to Sales, Marketing & Finance Solutions. We hope that within the pages of this comprehensive guide, you will find a variety of content that will assist you in maximizing your sales and profits and will help you gain a competitive edge in your marketplace.